by Amruth Sundarkumar | Aug 4, 2022 | Banks, Global, Investment Grade Bonds
Germany’s Commerzbank reported a consolidated net profit of €470mn ($478.9mn) for Q2 vs. a net loss of €527mn ($536.9mn) in the previous year. Total revenues were at €2.4bn ($2.5bn), up 30.1% YoY driven by strong customer business and rising interest rates. Net...
by Amruth Sundarkumar | Aug 4, 2022 | Investment Grade Bonds
One of the largest bond ETFs, the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) witnessed its tenth straight day of inflows totaling ~$2.4bn, as per Bloomberg data. This underscores the returning demand for corporate bonds. The recent bout of inflows takes...
by Amruth Sundarkumar | Aug 3, 2022 | India, Macroeconomic news
India has made adjustments to its tax policy for the second time in less than two weeks. The South Asian country has raised the windfall tax on locally produced crude from INR 17,000 to INR 17,750 a tonne, which will hurt producers like Vedanta, Reliance and ONGC....
by Amruth Sundarkumar | Aug 2, 2022 | Corporates, Global
US-based offshore drilling company Transocean reported a reduction in net loss for the June quarter to $68mn vs. a net loss of $103mn in the previous year. Total contract drilling revenues rose 5.5% YoY to $692mn, and revenue efficiency was 97.8% against 94.9% in Q1....
by Amruth Sundarkumar | Aug 1, 2022 | High Yield Bonds, Interest Rate Trends, Investment Grade Bonds
US primary market issuances fell to $16.4bn vs. $40.1bn in the previous week. IG issuances stood at $15.2bn vs. $39.2bn in the week prior, led by American Express and Truist Financial raising $3.5bn and $2.5bn respectively via two-tranche deals. In the HY space,...
by Amruth Sundarkumar | Aug 1, 2022 | Banks, Global
Credit Suisse’s legal turmoil continues as billionaire client and ex-Georgia PM Bidzina Ivanishvili sued one of its subsidiaries, Credit Suisse Trust Ltd. (Singapore) for $800mn. Prior to this, Ivanishli had successfully claimed against another of the bank’s...
